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HSBC Holdings PLC (HSBC)

  • Mon, Feb. 23, 4:30 AM
    • HSBC (NYSE:HSBC) -4.8% premarket after reporting that profits fell 17% to $18.7B in 2014, down from $22.6B the year before and below the average analyst forecast of $21B.
    • The bank, which faced a significant number of fines and settlements last year, also cut its target for RoE to "more than 10%" from a previous target of more than 12%.
    • "We deeply regret and apologize for conduct and compliance failures...which were in contravention of our own policies," added HSBC, addressing the allegations about tax evasion at its Swiss operations.
    • HSBC chief executive, Stuart Gulliver, has been recently dragged into the tax-evasion scandal after it was claimed that he sheltered millions of dollars in a Panamanian company via its Swiss private bank.
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  • Nov. 3, 2014, 5:38 AM
    • HSBC (NYSE:HSBC) set aside $1.7B to cover one-off charges, including $378M for a possible settlement with the U.K. Financial Conduct Authority over alleged forex manipulation.
    • HSBC also booked a $701M provision to compensate customers for mis-sold products and $550M for a deal with the Federal Housing Finance Authority.
    • Pretax profit of $4.61B missed estimates of $5.47B.
    • Adjusted revenue flat at $15.58B.
    • Net profit increased to $4.53B from $3.2B as provisions for bad loans dropped.
    • Costs rose 6%, with HSBC having to hire ever more risk and compliance staff.
    • Share are flat premarket.
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  • Nov. 3, 2014, 3:35 AM
    • HSBC's (NYSE:HSBC) pretax profit rose 2% in Q3 to $4.61B, although underlying earnings fell 12% to $4.41B.
    • EPS $0.23 vs $0.16 a year earlier.
    • Revenues increased to $15.775B from $15.08B
    • HSBC declared a Q4 dividend of $0.10 a share.
    • "Revenue continued to grow in Commercial Banking, dominated by growth in our home markets of Hong Kong and the United Kingdom," says CEO Stuart Gulliver. "Global Banking & Markets contributed a strong revenue performance with its differentiated business model. Global Private Banking has attracted net new money of $10B in areas targeted for growth since the start of the year." (PR)
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  • May. 7, 2014, 9:16 AM
    • HSBC Holdings net profit of $5.2B falls from $6.4B a year ago. Underlying revenue of $15.7B off 8%. Underlying costs up 2% as higher compliance costs win out over trims elsewhere.
    • Investment banking pretax profit off 20%. FICC (slowing throughout the industry) accounts for 25% of unit's revenue.
    • Asian pretax profit off 32%, at least some of that due to a $1.8B gain from Ping An and Industrial Bank a year ago. HSBC says April activity has been "muted."
    • Shares -1.2% premarket
    • Press release
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  • Feb. 24, 2014, 4:39 AM
    • HSBC's (HSBC) 2013 pretax profit rose 9% to $22.56B but fell short of consensus of $24.6B.
    • Underlying revenue grew to $63.3B from $61.6B, while underlying operating costs dropped 6% to $38B.
    • Q4 pretax profit fell to $3.96B from $4.43B a year earlier.
    • HSBC increased its dividend to $0.49 a share from $0.45.
    • However, the bank warned of "choppy markets" this year as emerging economies adjust to "changing economic circumstances and sentiment."
    • Shares are -4.2% in London. (PR)
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  • Feb. 23, 2014, 2:20 AM
    • HSBC (HSBC) is set to disclose that it will pay staff bonuses of just under $4B when it releases its full-year results this week, Sky News reports.
    • The amount will represent a rise from $3.69B for 2012.
    • FY underlying pre-tax profits at HSBC are forecast to have increased to $22.2B from $18.8B, Standard Chartered analysts have said.
    • HSBC is also expected to disclose a significant impairment charge in connection with its Mexican operations.
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  • Nov. 4, 2013, 4:04 AM
    • HSBC's (HBC) underlying revenue flat at $15.59B; overall revenue +3.5% to 15.08B.
    • U.K. and Hong Kong markets contributed over half of HSBC's underlying pretax profit.
    • Underlying operating expenses -4% to $9.57B.
    • Achieved $400M of cost cuts, taking the annualized total to $4.5B since the start of 2011, which is ahead of plan.
    • Loan impairment charges and other credit risk provisions $1.59B vs 1.72B a year earlier.
    • Compensation for U.K. customers $428M.
    • Restructuring and other related costs $158M.
    • Core tier 1 ratio 13.3%
    • Outlook: "We see reasons for optimism with some evidence of a broadening recovery." (Previous) (PR)
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  • Aug. 5, 2013, 5:01 AM
    • HSBC's (HBC) underlying pretax profit +47% to $13.1B, helped by lower loan-impairment charges and operating costs.
    • Attributable profit +23% to $10B.
    • Net interest income -8% to $17.8B.
    • Western economic growth continued to be tepid while growth in China and the rest of Asia stuttered; regulatory reforms added to costs.
    • Impairment charges and credit risk provisions -$1.7B to $3.1B.
    • Grew revenues in key areas: Financing & Equity Capital Markets, Credit businesses, residential mortgages in the U.K. and Hong Kong, and from collaboration between global businesses.
    • Return on equity rises to 12% from 10.5% last year.
    • Underlying expenses -8%, helped by $800M of cost savings across all regions, taking the annualized total to $4.1B since the start of 2011.
    • Core tier 1 ratio 12.7%, common equity tier 1 ratio 10.1%.
    • Total assets -2% since December to $2.645T.
    • Declares second interim dividend for 2013 of $0.10 a share.
    • Shares -3%. (PR)
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  • Aug. 5, 2013, 4:44 AM
    • HSBC (HBC): H1 pretax profit +10% to $14.1B, missing consensus of $14.6B.
    • Revenue -7% to $34.4B.
    • Shares -2.6% premarket. (PR)
  • May. 7, 2013, 4:45 AM
    HSBC (HBC): Q1 pretax profit of $8.43B beats by $330M. Underlying pretax profit +34% Y/Y to $7.6B. Core tier 1 capital rises to 12.7% from 12.3% in Q4.
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  • Mar. 4, 2013, 3:37 AM
    More on HSBC (HBC) 2012: EPS -20% to $0.74. Notable items include $1.9B of fines for compliance breaches and $1.4B for mis-selling of financial products in U.K. Return on equity 8.4% vs 10.9% in 2011. Revenue breakdown: Global Banking & Markets +10% to $18.2B, Commercial Banking +8% to $15.9B; Retail Banking & Wealth Management +6% to US$27.7B. Over half of underlying revenue came from faster-growing regions. (PR)
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  • Nov. 5, 2012, 4:11 AM
    More on HSBC (HBC) Q3: earnings aided by a sharp drop in bad debts, as well as by growth in Global Banking and Markets, mainly in Rates and Credit as eurozone conditions stabilized relative to last year, and in Commercial Banking, where net interest income rose. Generates cost savings of $500M, taking total annualized savings to $3.1B. Remains confident in its outlook for growth in China. Shares -1.45% in London. (PR)
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  • Nov. 5, 2012, 4:02 AM
    HSBC (HBC): Q3 pretax profit +125% to $5B vs estimates of $5.6B. Underlying revenue +20% to $16.13B. Takes provision of $800M to cover a potential U.S. fine for problems with its anti-money laundering controls - adding to $700M set aside in July - and $353M charge for mis-selling in the U.K., mainly of payment protection insurance. (PR)
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  • Jul. 30, 2012, 4:46 AM
    HSBC (HBC): H1 pretax profit of $12.7B, up 11% on the year and above consensus of $12.5B. Underlying profit was down 3% on the year to $10.6B. Sets aside $2B to cover regulatory and compliance problems in the U.S. and UK. Core Tier 1 ratio of 11.3%, up from 10.1% in December. Shares -1.5% premarket. (PR .pdf)
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  • May. 8, 2012, 5:03 AM
    More on HSBC (HBC) Q1: Total operating revenue flat at $20.44B. Net profit attributable to shareholders $2.58B vs. $4.15B, due to the charge on debt. ROE 6.4%, cost-to-income ratio 63.9%. "Our performance in April has been satisfactory, and we remain confident that we will deliver on executing our strategy," says CEO Stuart Gulliver.
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  • May. 8, 2012, 4:44 AM
    HSBC (HBC): Q1 Underlying pretax profit +25% to $6.8B vs. consensus of $5.8B, boosted by a recovery in income from investment banking and a drop in U.S. bad loans. Statutory pretax profit $4.3B but hurt by a negative impact of $2.6B due to a change in the value of HSBC's debt. Shares +0.8% in London. (PR)
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Company Description
HSBC Holdings PLC provides banking and financial services through four segments namely Retail Banking and Wealth Management, Commercial Banking, Global Banking and Markets and Global Private Banking.